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Tengrinews.kz – Kazakhstan has shut down 130 illegal cryptocurrency exchanges used by criminals to launder money from online fraud and drug trafficking.
According to the Agency for Financial Monitoring (AFM), financial investigations led to the seizure of 16.7 million USDT.
How the scheme worked
Owners of “darknet shops” and cybercriminals transferred money either to bank accounts or to the exchangers’ crypto wallets. The funds were then converted and passed through multiple transactions to conceal their origin. For these money-laundering services, a commission was charged. The operations often involved bank cards and crypto wallets registered to fake individuals (so-called “droppers”).
“Illegal exchangers are deeply involved in shadow financial operations and act as ‘professional launderers,’ ensuring the cash-out and transfer of funds abroad,” the AFM stated.
Authorities’ warning
The agency urged citizens to use only licensed and officially registered crypto-exchange services. The list of approved platforms is available on the AIFC (Astana International Financial Centre) website.
Earlier, Minister of Digital Development Zhaslan Madiev unveiled a plan to reform Kazakhstan’s crypto market — aiming not just to support miners, but to relaunch the entire industry, from cryptocurrency legalization to building a CryptoCity.
